https://amp.insurancejournal.com/news/national/2023/01/31/705255.htm
12 replies (most recent on top)
They probably paid the settlement because at this rate no one decent will want the top actuary or CFO job if they'll get fired or let go within a couple years.
Better to have a quiet settlement than a messy company divorce that would force the information public. Can’t let this interrupt the executive money train. Hush money.
The devices Mt have contained some interesting photos since he still received a substantial payout!
A guy with such a caliber suddenly goes wild.
Maybe he let his wife or kids use his phone or laptop?
He shared "company communication devices"? I guess that means he shared emails with people outside of AIG.
He basically broke the executive circle of trust to keep everything as non-transparent as possible so you can effectively fudge numbers and keep analysts from asking tough questions.
Whatever he shared must have been facts or I doubt he would have qualified for his $7,000,000 parting gift.
I can’t believe they are giving him 7.5 million dollars and he is fired. I guess the confidentiality he broke, wasn’t too severe to get a payout. Maybe he was going to sue and got a payout to be quiet.
Nothing to do with earnings. Poke around on the news sites. At least one mentions the reason.
To the poster below…Doubt he gave an earnings whisper to someone he wasn’t supposed to, more likely told someone what he really thought about PZ to someone and got shown the door. If he gave an earnings whisper he wouldn’t have gotten a pay package to leave, they would’ve fired him for cause (because if we know one thing about PZ, it’s that he’d prefer to keep any available comp for himself)
Meh....rich people problems...
Must’ve told someone their 4th quarter earnings before they are announced.
Any ideas
"“violated his confidentiality/non-disclosure obligations,” the company said."
Guess he told the truth about the company's position to someone he shouldn't have...